ELON MUSK: The First Person in History with a Net Worth Over $400 Billion!
Some love him, others not so much. Regardless of how you feel about Elon Musk, there’s no denying the magnitude of his success.
ELON MUSK
Let’s start from the beginning. Since the U.S. elections on November 5th, Musk’s net worth has been on an unprecedented upward trajectory. Seriously, the numbers are jaw-dropping.
How jaw-dropping? Well, Musk’s net worth skyrocketed by 66% in record time, setting new standards in wealth accumulation.
Tesla played a starring role in this ascent. The stock has soared by 70% this year, pushing the company’s market cap to new all-time highs.
From Election Day onwards, Tesla’s value increased by $470 billion, now standing at a staggering $1.3 trillion, almost catching up to Meta Platforms to claim the title of the 7th largest U.S. company.
NOT JUST TESLA
But wait, Musk doesn’t only own Tesla! True! His other ventures followed suit
SpaceX: Its valuation rocketed from $200 billion to $350 billion.
xAI: Musk’s new AI company doubled its valuation, from $24 billion to $50 billion.
When you do the math, this means Musk has been raking in $4 billion a day. Yes, you read that right: $4,000,000,000 every single day.
WHY THE EXPLOSION?
Okay, but why this sudden surge?
Part of it could be tied to Musk’s rumored appointment as head of the Department of Government Efficiency .
The real MVP here is Tesla. As mentioned, its stock has climbed 70% year-to-date and more than 200% since May, thanks to two key developments:
China’s demand: Higher-than-expected sales figures in Tesla’s largest market thrilled investors.
Self-driving cars and robotaxis: Speculation about faster approvals under the new U.S. Administration drove enthusiasm through the roof.
The second point is particularly game-changing, promising to redefine transportation as we know it. And if Tesla is the leader in this field, its future profits could be astronomical.
SHOULD YOU INVEST IN TESLA?
Now for the million-dollar question ,Should I buy Tesla stock?
Here’s my take: Despite its impressive performance, I’m staying away from Tesla for now. Here’s why:
Volatility: Tesla’s stock history is turbulent. After hitting its previous high in 2021, it lost over 70% of its value within 18 months and 200% from this years low.
Valuation: At its current price of $424, Tesla feels significantly overvalued.
While Musk’s aura and bold visions often inflate valuations, it’s worth remembering that hype can outpace reality. For those who believe in Musk’s vision and think Tesla is just getting started, the ride could be worth it. But tread carefully Tesla resembles a lot meme coins fluctuations .